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Alexxandr [17]
3 years ago
12

It takes K’s Boutique an average of 53 days to sell its inventory and an average of 16.8 days to collect its accounts receivable

. The firm has sales of $942,300 and costs of goods sold of $692,800. What is the accounts receivable turnover rate? Assume a 365-day year.
Business
1 answer:
dezoksy [38]3 years ago
5 0

Answer:

The accounts receivable turnover rate is 21.73

Explanation:

The formula for accounts receivable turnover is

365/Average days to collect.

This way we can find how many times a year does the company collect payments for its accounts receivable, so when we divide the total number of days in a year by the average number of days to collect we can calculate how many times we collect payment for accounts receivable.

In the question we are given the average days to collect which is 16.8

We have to put that into a formula

365/16.8=21.73

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Answer: $‭196,800‬

Explanation:

The cash payments to suppliers for inventory purchases will be:

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= $5,700

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= 13,500 - 6,000

= $7,500

Cash to suppliers for inventory = 210,000 - 5,700 - 7,500

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In communication, what is purpose?
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Electro Company manufactures an innovative automobile transmission for electric cars. Management predicts that ending finished g
snow_tiger [21]

Answer:

Instructions are below.

Explanation:

Giving the following information:

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third quarter= 469,000 units

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To calculate the production for each quarter, we need to use the following formula:

Production= sales + desired ending inventory - beginning inventory

Second-quarter:

Sales= 417,000

Desired ending inventory= 0.5*469,000= 234,500

Beginning inventory= (208,500)

Total production= 443,000

Third-quarter:

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Desired ending inventory= 0.5*289,500= 144,750

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3 years ago
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Natali [406]

Answer:

A. All checks require two signatures.

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